TOKYO -- Japanese department stores are recovering from the pandemic slump, with total sales increasing 16% on the year in fiscal 2022, driven by brisk spending by relatively young high-income earners in metropolitan areas.
Combined sales of 167 stores run by 66 operators came to 5.1 trillion yen ($35 billion) for a second consecutive year of growth. Sales recovered to 88% of the level recorded before the pandemic in fiscal 2019.